Elon Musk's Net Worth Soars To All-Time High, Becomes Richest Person In History | Details Inside

Elon Musk has officially become the wealthiest person in history, with a net worth of $347.8 billion, according to CNN.

This remarkable milestone follows a surge in Tesla's stock, driven by Wall Street's optimism over the pro-business stance of US President-elect Donald Trump, a close ally of the billionaire entrepreneur.

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Tesla's share price has climbed 40 per cent since Election Day, rising by 3.8 per cent on Friday alone to close at $352.56 - its highest level in over three years.

This one-day gain added $7 billion to Musk's fortune, pushing his net worth beyond the previous record of $320.3 billion, which he achieved during Tesla's pandemic-era boom in November 2021.

Investor confidence has been bolstered by Musk's close ties with President-elect Trump. Having endorsed Trump earlier this year, Musk contributed over $100 million to his campaign. He has since been appointed chair of the new "Department of Government Efficiency" (DOGE), where he will collaborate with biotech entrepreneur Vivek Ramaswamy.

Wall Street analysts view the administration's anticipated deregulation efforts as a key benefit for Tesla, especially for its Full Self-Driving programme, which has faced regulatory challenges.

In addition to Tesla, Musk's ventures in artificial intelligence and aerospace have significantly boosted his wealth. His 60 per cent stake in the private AI firm xAI, valued at $50 billion, added $13 billion to his fortune.

Meanwhile, his 42 per cent stake in SpaceX, valued at $210 billion during a June tender offer, contributed $88 billion.

There is further speculation that SpaceX's upcoming funding round, which could value the company at $250 billion, might increase Musk's net worth by an additional $18 billion.

At present, Musk's wealth places him $80 billion ahead of Larry Ellison, Oracle's chairman, who is the world's second-richest individual with a fortune of $235 billion. The majority of Musk's wealth is tied to his 13 per cent stake in Tesla, currently valued at $145 billion, alongside his pending 9 per cent equity award in the company.

However, despite his historic wealth, Tesla shares remain about 14 per cent below their all-time high from late 2021. In contrast, the broader S&P 500 index has risen by 27% since that peak.